While marketers continue to agonize about their inability to translate the potential of social media to actual sales, they may be missing out on opportunities in traditional media. Out-Of-Home (OOH) is one of those media. There is no doubt that it has been gaining traction as a mass media as television audiences continue to decline and fragment. But I still wonder if it is getting the attention it deserves.
Recently several articles have discussed the value (and cost) of advertising in New York City’s Times Square. And indeed the amount of traffic it attracts is powerful. But the biggest eye opener for me was an article from the Wall Street Journal that discussed Verizon’s Precision Market Insights. The product allows malls, stadium and billboard owners access to data about the activities and backgrounds of cellphone users in particular locations. (Troianovski, 2013)
Connecting advertising exposure with action is huge. The Phoenix Suns are apparently using the data to map where attendees live so that they can increase advertising in areas that haven’t met expectations. Interesting. But what really caught my eye was this – The average increase in traffic at a fast food chain was 8.4% within 24 hours of a promotion at a game. That’s impressive and certainly worth a closer look. Don’t you agree?
Troianovski, A. (2013, may 22) Phone Firms Sell data on Customers. Wall Street Journal. p. B1